{"id":76950,"date":"2021-06-14T14:56:59","date_gmt":"2021-06-14T09:56:59","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=76950"},"modified":"2021-06-14T14:57:03","modified_gmt":"2021-06-14T09:57:03","slug":"govt-imf-extension-amnesty","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-imf-extension-amnesty.html","title":{"rendered":"Govt urges IMF for extension of construction amnesty scheme"},"content":{"rendered":"\n<p>Islamabad: Finance Minister Shaukat Tarin on Saturday indicated at a post-budget briefing that the government has asked the International Monetary Fund (IMF) for a six-month extension of the construction industry amnesty programme, according to news sources.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/lda-seeks-regularise-commercial-properties-amnesty-scheme.html\" target=\"_blank\" rel=\"noreferrer noopener\">Amnesty scheme on cards to regularise illegal commercial properties in Lahore<\/a><\/p>\n\n\n\n<p>The administration has previously extended the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/pm-announces-new-years-gift-for-construction.html\" target=\"_blank\">amnesty scheme<\/a>&#8216;s expiration date from December 31, 2020, to December 31, 2021, this year. The facility of non-disclosure of income &#8211; offered under the said scheme &#8211; was also extended until June 30, 2021.<\/p>\n\n\n\n<p>According to the programme, developers and builders must register their projects on the Federal Board of Revenue&#8217;s (FBR) computer-based Image Recognition Integrated Systems (IRIS) software by June 30, and deliver it by September 30, 2023.<\/p>\n\n\n\n<p>According to reports, 1,083 projects worth PKR 340 billion have been filed with the FBR, while 292 unconfirmed projects involving PKR 43 billion are seeking to be registered. In addition, until May 6, around 3,851 buyers were interested in purchasing homes using tax incentives announced for the building sector.<\/p>\n\n\n\n<p>According to the finance minister, the government wants to make it easier for people to invest their &#8216;untaxed money in the construction industry&#8217;.<\/p>\n\n\n\n<p>While discussing revenue collection performance, Mr Tarin stated that the provinces play an important role in tax collection. The federal and provincial governments will be able to fund development projects without taking out loans as a result of improved provincial tax collection.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/construction-projects-registered-under-amnesty-scheme.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR shares latest statistics on real estate projects registered under amnesty scheme<\/a><\/p>\n\n\n\n<p>Furthermore, the finance minister stated that the FBR target for the next fiscal year is likely to be PKR 5.8 trillion. Aside from that, the government prefers to bring more individuals into the tax net rather than tax those who are already paying.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Finance Minister Shaukat Tarin on Saturday indicated at a post-budget briefing that the government has asked the International Monetary Fund (IMF) for a six-month extension of the construction industry amnesty programme, according to news sources. Read: Amnesty scheme on cards to regularise illegal commercial properties in Lahore The administration has previously extended the amnesty scheme&#8216;s expiration date from December 31, 2020, to December 31, 2021, this year. The facility of non-disclosure of income &#8211; offered under the said scheme &#8211; was also extended until June 30, 2021. According to the programme, developers and builders must register their projects on the Federal Board of Revenue&#8217;s (FBR) computer-based Image Recognition Integrated Systems (IRIS) software by June 30, and deliver it by September 30, 2023. According to reports, 1,083 projects worth PKR 340 billion have been filed with the FBR, while 292 unconfirmed projects involving PKR 43 billion are seeking to be registered. In addition, until May 6, around 3,851 buyers were interested in purchasing homes using tax incentives announced for the building sector. According to the finance minister, the government wants to make it easier for people to invest their &#8216;untaxed money in the construction industry&#8217;. While discussing revenue collection performance,&hellip;<\/p>\n","protected":false},"author":83,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[3493,27497,19230,39451,3293,46255,11728,46256],"persona":[],"class_list":{"0":"post-76950","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-amnesty-scheme","9":"tag-construction-industry","10":"tag-federal-board-of-revenue-fbr","11":"tag-federal-government","12":"tag-finance-minister","13":"tag-govt-urges-imf-for-extension-of-amnesty-scheme","14":"tag-imf","15":"tag-iris","16":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt urges IMF for extension of amnesty scheme - Zameen News<\/title>\n<meta name=\"description\" content=\"According to reports, 1,083 projects worth PKR 340 billion have been filed with the FBR, while 292 unconfirmed projects involving PKR 43 billion....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-imf-extension-amnesty.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt urges IMF for extension of amnesty scheme - Zameen News\" \/>\n<meta property=\"og:description\" content=\"According to reports, 1,083 projects worth PKR 340 billion have been filed with the FBR, while 292 unconfirmed projects involving PKR 43 billion....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-imf-extension-amnesty.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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